Baker Hughes (NASDAQ:BKR) Given New $48.00 Price Target at Susquehanna

Baker Hughes (NASDAQ:BKR) had its price target hoisted by stock analysts at Susquehanna from $46.00 to $48.00 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has a “positive” rating on the stock. Susquehanna’s price target would suggest a potential upside of 27.93% from the company’s current price.

Several other research firms also recently commented on BKR. UBS Group reduced their price objective on Baker Hughes from $42.00 to $40.00 and set a “neutral” rating for the company in a research note on Wednesday, September 18th. Stifel Nicolaus increased their target price on shares of Baker Hughes from $40.00 to $45.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Evercore ISI boosted their price target on shares of Baker Hughes from $42.00 to $46.00 and gave the stock an “outperform” rating in a research report on Monday, July 29th. Morgan Stanley increased their price objective on shares of Baker Hughes from $42.00 to $45.00 and gave the company an “overweight” rating in a report on Thursday, October 3rd. Finally, Benchmark restated a “buy” rating and set a $42.00 target price on shares of Baker Hughes in a report on Thursday. Two investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $44.12.

Baker Hughes Stock Up 2.0 %

Shares of NASDAQ BKR opened at $37.52 on Thursday. The firm has a market cap of $37.44 billion, a price-to-earnings ratio of 20.96, a price-to-earnings-growth ratio of 0.61 and a beta of 1.38. The company’s 50-day simple moving average is $35.64 and its 200-day simple moving average is $34.36. The company has a quick ratio of 0.86, a current ratio of 1.27 and a debt-to-equity ratio of 0.37. Baker Hughes has a 52-week low of $28.32 and a 52-week high of $39.05.

Baker Hughes (NASDAQ:BKR) last posted its quarterly earnings data on Tuesday, October 22nd. The company reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.06. Baker Hughes had a return on equity of 12.45% and a net margin of 7.37%. The company had revenue of $6.91 billion for the quarter, compared to analysts’ expectations of $7.21 billion. During the same period in the previous year, the firm posted $0.42 EPS. Baker Hughes’s revenue was up 4.0% compared to the same quarter last year. Equities analysts predict that Baker Hughes will post 2.25 EPS for the current fiscal year.

Insider Activity at Baker Hughes

In other Baker Hughes news, CEO Lorenzo Simonelli sold 114,286 shares of Baker Hughes stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $35.00, for a total transaction of $4,000,010.00. Following the completion of the sale, the chief executive officer now directly owns 502,053 shares in the company, valued at $17,571,855. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.25% of the stock is owned by insiders.

Hedge Funds Weigh In On Baker Hughes

A number of hedge funds have recently made changes to their positions in the stock. Wealth Enhancement Advisory Services LLC lifted its stake in Baker Hughes by 8.5% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 23,332 shares of the company’s stock worth $782,000 after purchasing an additional 1,829 shares in the last quarter. 180 Wealth Advisors LLC raised its holdings in shares of Baker Hughes by 19.9% in the 1st quarter. 180 Wealth Advisors LLC now owns 22,083 shares of the company’s stock valued at $740,000 after buying an additional 3,671 shares during the period. Hennessy Advisors Inc. acquired a new position in Baker Hughes during the 1st quarter worth about $5,611,000. Occidental Asset Management LLC purchased a new position in Baker Hughes during the 1st quarter valued at about $1,861,000. Finally, Diversified Trust Co grew its position in Baker Hughes by 98.7% in the 1st quarter. Diversified Trust Co now owns 50,029 shares of the company’s stock valued at $1,676,000 after acquiring an additional 24,850 shares in the last quarter. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Baker Hughes Company Profile

Baker Hughes Company provides a portfolio of technologies and services to energy and industrial value chain worldwide. The company operates through Oilfield Services & Equipment (OFSE) and Industrial & Energy Technology (IET) segments. The OFSE segment designs and manufactures products and provides related services, including exploration, appraisal, development, production, rejuvenation, and decommissioning for onshore and offshore oilfield operations.